Vonage: 2Q Earnings Snapshot
Aug. 01, 2018
HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Wednesday reported second-quarter profit of $8.6 million.
On a per-share basis, the Holmdel, New Jersey-based company said it had net income of 3 cents. Earnings, adjusted for one-time gains and costs, came to 7 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 7 cents per share.
The provider of phone services through cloud-connected devices posted revenue of $259.9 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $254.5 million.
Vonage expects full-year revenue in the range of $1.04 billion to $1.05 billion.
Vonage shares have climbed 26 percent since the beginning of the year. The stock has increased 94 percent in the last 12 months.